Walmart-owned e-commerce giant Flipkart has launched a new insights platform, Flipkart IRIS (Insights and Research Intelligence System), designed to offer brands comprehensive intelligence on customer behavior. This advanced tool aims to help brands enhance their performance on Flipkart by providing actionable insights, fostering growth, and facilitating informed decision-making.

Flipkart IRIS functions as an advanced analytics tool, delivering detailed reports to guide brands in improving their performance across various funnels. It includes industry-standard comparative analysis and unique insights into user behavior. The platform goes beyond basic analytics, offering exclusive reports that allow brands to understand high-value consumer actions for their products on the platform. According to Flipkart, these insights will enable brands to make data-driven decisions, significantly improving conversion rates and sales.

Flipkart highlights several benefits of using IRIS for both homegrown Direct-to-Consumer (D2C) and new-age brands. These include identifying new growth opportunities, comparing their performance and perception against competitors, optimizing marketing campaigns, enhancing customer engagement, and continuously monitoring brand performance and health. Established brands can delve deeper into sales funnels, identify growth opportunities, measure performance, stay competitive, and develop strategies to meet their objectives.

A standout feature of Flipkart IRIS is its ability to provide insights across different city tiers and socio-economic backgrounds in India. This broad reach ensures that the insights can also help brands enhance their performance in offline channels.

Sandeep Karwa, Vice President of Flipkart Ads, commented, “Flipkart IRIS represents a significant advancement in empowering brands to bolster their businesses and succeed on Flipkart. By providing actionable insights backed by rich data, the platform is poised to unlock unprecedented growth opportunities for brands on the platform.”

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The launch of Flipkart IRIS comes at a crucial time as retail media emerges as the third big wave in digital advertising after search and social media. Advertising-led monetization is rapidly growing in India, with retail media spending currently at 15%–20% of digital AdEx, compared to 25%–30% in the US and 55%–60% in China. Karwa noted, “In the first quarter of 2024, digital AdEx in India increased to over 25–30%. Despite the rapid growth, the headroom to grow is tremendous.”

Flipkart IRIS is set to play a pivotal role in this evolving landscape, providing brands with the tools they need to thrive in the competitive digital marketplace.

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